Your rent is most likely your largest expense each month, so why not use it to your advantage. Paying your rent online makes your life a lot simpler, but paying with your credit card is a great way to not only better your credit score but also reap the benefits of a rewards card. Here are just a few of the benefits of paying your rent with your credit card.
Better Credit Card Selection
Certain credit cards have a minimum monthly amount you need to spend, and putting your rent on your card certainly helps you reach this amount. The more money you spend per month, the more rewards you will receive, but this also means you have a better selection of cards you can choose from.
A Higher Credit Score
Paying your rent at the same time each month will demonstrate consistency and help to increase your credit score. Most young people don’t have high credit scores due to age and experience, but a large payment each month is an easy way to increase your credit score fast. A good credit score is also beneficial if you move and your prospective landlord wants to run a credit check.
Looking to go on a European vacation or earn some cash back on your purchases? Paying your rent on your credit card is the best way to earn a lot of extra rewards points that you wouldn’t get from the regular monthly expenses like groceries or gas.
Paying online through your credit card means you can pay your rent from anywhere, no matter where you are or what you’re doing. On a vacation out of town or forget to transfer money into your account? You can set up your account so that it automatically withdraws the money on whatever day you pay your rent and you never have to give it another thought.